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Year 12 Methods (Unit 3 & 4) Refresher on probability and discrete random variables

Expected value, variance and standard deviation

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Questions
Question 1
148660

Tickets in a game of chance can be purchased for $10, Each ticket has a 10% chance of winning $20 and a 1% chance of winning $200 and otherwise loses. How much is expected to win or lose it the game is played 20 times?

$120 loss

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